The Egyptian Ministry of Petroleum is re-conducting seismic surveys on the Gulf of Suez, using modern global technologies to identify crude oil reserves, said Minister Tarek El Molla, according to Amwal Al Ghad.

Meanwhile, concessions in the Western Desert have been subject to 2D and 3D seismic surveys; where new reservoirs of crude oil have been discovered for exploration and production (E&P) , El Molla noted.

Stable production is a positive sign in a time, in which oil fields annual production declined by around 20% to 25%, the minister pointed out.

Crude oil production from all Egyptian concession directly contributes to covering most of the local fuel demands through local refineries.